RE:RE:Selling at the Bottom? But Why? Tannin, I concur with most of your sentiment. But if management continues to mine 'junk' ore from the Elder Mine, what percentage of the mill feed from Elder will eventually be used to compromise the higher grade ore mined from the SG mine? For the sake of the royalty, will Mr. Hinse still have some say in that matter? Hopefully not!
If I recollect, the cut-off grades at the SG mine are around 6.5% which means that anything less valuable than that grade of ore, in discontinuities where vein ore grades are inconsistent, cannot be profitably mined. If Abcourt chooses to also mine junk ore from the SG mine, then the apparent profitability of the whole operation could be rendered problematic and prone to failure.
Mr. Renaud Hinse's intimate connection to the Elder royalty has put Abcourt's ethical standards into some major disrepute. He really needs to recuse himself from the Abcourt Board altogether after some smooth transition for the new CEO has occurred.
Abcourt Mines operations, whenever unsuccessful, will always be tarnished by one man's failure to deal with this public relations fiasco which he stubbornly refused to resolve. As long as he is connected to his royalty, he has no business remaining on the board in any capacity other than as an observer. I would have no problem with that as long as he has no voting authority to help make the appropriate decisions.
Naturally, he is most welcome, as he always has been, to take part in the next private placement since he obviously has plenty of Elder royalty gold dollars to spend. The directors and officers of the company are expected to purchase about 25% of this next private placement.
I hope that the rest of the 15,000,000 units (shares) placed at a value of 10 cents may still be found available in the public domain while Abcourt shares still appear to be stuck in a 9 cent trading range for some considerable time, still yet to come.
It's now a matter of investor confidence and company marketing to get this job properly done. This will be a challenging endeavor to accomplish successfully at this juncture. Maybe with the presence of a new CEO on board, Dany the PR guy, may help smooth out this process to a successful resolution. He always seems to know, who to call! The company is lucky to have him!
Let's hope that the new CEO can help resolve most of these matters in the best possible way.
Shareholders are expecting a lot from this guy. Perhaps we expect more than he can possibly deliver?
But in any case, I don't feel too much sympathy for the difficulty of his position. He chose to accept the job and he had better perform. Just like the miners, the new CEO, will be, very well paid!
As shareholders, our hard earned dollars are at stake!
We all have a right to see a decent return on our investment. Not just a chosen few!
And that is what the new CEO implied in the recent press release.
I am confident that he is well aware of the unpleasant controversy presently surrounding this company.
This must change.
A public company must appear to be above board in all its financial dealings. No implied lack of ethics is acceptable, at any time, any more!
'' ''Pascal Hamelin, incoming President, CEO of Abcourt stated: “I am excited to join Abcourt and working closely with the Board and all our employees to grow our corporation.
My immediate focus will be on reviewing the Company’s strategy to better advance our projects while maximizing return for all stakeholders. Abcourt owns high-quality assets with high potential of resource expansion in the very prolific Abitibi region in Quebec.” ''
He already knows
all the issues and he is
not a stupid man! https://abcourt.ca/en/news/abcourt-annonce-la-nomination-de-pascal-hamelin-comme-nouveau-chef-de-la-direction/ We should do alright with this new guy at the helm!
At least, that is the hope!
All the best! Java